Armenia's leading opposition parties on Monday pledged to work together in trying to prevent a more than 35 percent surge in electricity prices sought by the Russian-owned national power distribution network.
The Electricity Networks of Armenia (ENA) utility formally requested the price hike last week in a letter sent to the Public Services Regulatory Commission (PSRC). The company cited continuing financial losses incurred by it and the need to repay its outstanding massive debts.
The Armenian government, which purportedly does not control the PSRC, backs the highly unpopular measure, with Energy and Natural Resources Minister Yervand Zakharian calling it "totally justified" last week. Zakharian insisted that the existing energy tariffs are too low to allow the ENA to sort out its financial troubles.
Armenian News
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